Stocks of Akamai Technologies Inc (NASDAQ:AKAM) traded higher last session on Wall Street, up 10.86% to $101.51.
AKAM stock price is now 9.95% away from the 50-day moving average and -4.12% away from the 200-day moving average. The market capitalization of the company currently stands at $15.46B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target enhanced from $110 to $125, Craig Hallum Upgraded its rating from Hold to Buy for Akamai Technologies Inc (NASDAQ: AKAM). On July 29, 2024, Guggenheim Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock keeping its target price maintained at $128, while ‘HSBC Securities’ rates the stock as ‘Hold’
In other news, Blumofe Robert, Chief Technology Officer sold 3,000 shares of the company’s stock on Jun 14 ’24. The stock was sold for $265,020 at an average price of $88.34. Upon completion of the transaction, the Chief Technology Officer now directly owns 24,729 shares in the company, valued at $2.51 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 14 ’24, Chief Technology Officer Blumofe Robert sold 219 shares of the business’s stock. A total of $19,346 was realized by selling the stock at an average price of $88.34. This leaves the insider owning 24,510 shares of the company worth $2.49 million. A total of 1.87% of the company’s stock is owned by insiders.
During the past 12 months, Akamai Technologies Inc has had a low of $87.59 and a high of $129.17. As of last week, the company has a debt-to-equity ratio of 0.97, a current ratio of 1.29, and a quick ratio of 1.29. According to the stock market information, the enterprise value for the company is $18359607296, which is based on a 25.17 price-to-earnings ratio, a 3.81 price-to-earnings-growth ratio, and a beta of 0.69. The fifty day moving average price for AKAM is $92.5342 and a two-hundred day moving average price translates $105.8578 for the stock.
The latest earnings results from Akamai Technologies Inc (NASDAQ: AKAM) was released for 2024-06-30. The net profit margin was 16.01% and return on equity was 13.91% for AKAM. The company reported revenue of $979.58 million for the quarter, compared to $935.72 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.69 percent. For the current quarter, analysts expect AKAM to generate $996.73M in revenue.
